Bharat Electronics Ltd
Bharat Electronics Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q4 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Bharat Electronics Limited (BEL) expects revenue growth of more than 15% for the financial year 2026-27. BEL expects revenue growth of more than 15% for FY27, maintaining double-digit growth over the next 5-10 years.
From Bharat Electronics Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Bharat Electronics Limited (BEL) expects revenue growth of more than 15% for the financial year 2026-27.
- The company is confident of maintaining a double-digit growth rate for the next 5 to 10 years.
- Order inflow for the year is expected to exceed INR 55,000 crores, including major projects like QRSAM.
- BEL anticipates continuous investment in R&D (targeted around INR 2,200 crores) and capital expenditure (more than INR 1,200 crores) to support growth.
- Non-defense business contribution is aimed to increase steadily from the current 8-10% to 15-20% over time.
- Export business, currently 4-5%, is expected to rise to above 10% in 4-5 years.
- Large-ticket orders, including QRSAM, NGC subsystems, P-75I, and HAMMER programs, are expected to boost future growth.
- The company plans capacity augmentation and infrastructure upgrades to support expanding operations.
Profitability & Margins
See what Bharat Electronics Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- **FY26 Capex:** Around INR900 crores capital expenditure booked last year.
- **FY27 Capex Guidance:** Targeting more than INR1,200 crores as capital investment for this year (20%+ growth over previous year).
- **Next 3 Years:** Large capex projects planned at Palasamudram, Chitrakoot, Vellore, Ghaziabad, and Bangalore facilities to upgrade and diversify product capabilities.
- **Strategic Investments:** Around INR100-200 crores invested or in approval stages for advanced computing infrastructure supporting new technologies like AI, quantum computing, and drone electronics.
- **Capacity Expansion:** Continuous capacity augmentation planned to support double-digit growth over next 5-10 years; no major bottlenecks anticipated.
- **R&D Investment:** Targeted INR2,200 crores investment in R&D for the ongoing year to support technology advancement and new business areas.
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Fundraising & Capital Structure
See what Bharat Electronics Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current order book is around INR 74,000 crores.
- Major ongoing projects include:
- - Electronic fuses (~INR 4,300 crores; execution over next 7 years)
- - LRSAM (~INR 3,500 crores)
- - LCA Mark 1/Mark 1A LRUs for Tejas (~INR 3,200 crores)
- - BMP-II upgrade (~INR 2,800 crores; 2 years left)
- - Ashwini radar (~INR 2,460 crores)
- - EW Suite for Mi-17 V5 (~INR 2,200 crores)
- - Spare services and miscellaneous (~INR 2,500 crores)
- Most orders to be executed within 1 to 3 years, with some extending up to 7 years.
- Expected order inflow for FY27 is over INR 55,000 crores, including the QRSAM order expected soon.
- Upcoming big-ticket orders include QRSAM, Next Generation Corvette (NGC) subsystems, Shatrughat and Samghat EW solutions, and P-75I submarine components.
- Export order book stands at approximately USD 96 million, with execution planned over 2-3 years.
Bharat Electronics Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹10.2K Cr, net profit ₹2.2K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Bharat Electronics Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Bharat Electronics Ltd Q4 FY26 results?
Bharat Electronics Limited (BEL) expects revenue growth of more than 15% for the financial year 2026-27. BEL expects revenue growth of more than 15% for FY27, maintaining double-digit growth over the next 5-10 years.
What is Bharat Electronics Ltd share price analysis?
Bharat Electronics Ltd currently shows a neutral. The stock trades at a P/E of 48.9 with a market cap of ₹300,286 Cr. Investors should review the full earnings analysis for detailed insights.
Is Bharat Electronics Ltd planning capital expenditure?
FY26 Capex:** Around INR900 crores capital expenditure booked last year.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.